Swiss Stocks Close On Firm Note
(RTTNews) - Swiss stocks turned in a fine performance on Monday, tracking gains in other markets across Europe, after U.S. President Donald Trump decided to delay the implementation of the 50% tariffs on European Union goods until July 9th. The tariff was earlier proposed to be levied from June 1st.
Trump's move to pause the levy came after a call from European Union Commission President Ursula von der Leyen.
"The EU and US share the world's most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," Von der Leyen wrote on X.
The Swiss benchmark SMI settled with a gain of 118.38 points or 0.97% at 12,317.07. The index touched a low of 12,278.85 and a high of 12,340.34 intraday.
VAT Group climbed 3.21%. Adecco, Logitech International, Sika and Alcon gained 2.1 to 2.5%.
Partners Group, SIG Group, Straumann Holding, Lindt & Spruengli, Holcim, Lonza Group, Zurich Insurance, Julius Baer, Swiss Life Holding and ABB closed higher by 1.2 to 2%.
Roche Holding gained about 1%, after the company said it is preparing to launch a phase 3 clinical trialfor its experimental antibiotic zosurabalpin. The drug has shown potential against superbug acinetobacter that is resistant to current treatments.
Schindler Ps, Swiss Re Sandoz Group and Novartis also ended with solid gains.
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
Swiss Market Ends On Firm Note
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
U.S. Consumer Sentiment Unexpectedly Deteriorates In August
U.S. Industrial Production Pulls Back Slightly In July
